Selling L$ Best ways to make it work?

OK.

So maybe an old Q but I'm lazy and maybe others here could use the knowledge.

I used to sell L$ on Ebay. My freind got scammed for 3000 dollars * yes 3K RL dollars* the guy built her confidence up by buying small lots and she was silly and started dealing with him outside of ebay and he bought 3K worth of L$ only to then goto PayPal and say she never delievered it.

They paid him back and now she owes PayPal 3K...she was naive but this isnt the point of my thread...my mind wonders lol..my age dont ya know¬

Anyhooooo....


So now I sell my *cough* millions of linden to GOM usualy in one lump sum.

Of course GOM take their cut..PayPal take their cut and if i was to transfer the rest to my bank paypal take yet another cut.

Now we all have land fees...and account fees...my aim is to pay for mine & my mans acct & land fees out of the L$ i sell.

What is teh best and cheapest way to go about doing this?

Should I break down the L$ into 1K lumps and sell at GOM? Is there any PayPal charge benefit to selling smaller amounts? Or do they tae the same % no matter how much money your account accepts?

Also..is there anyway we can pay for land fees and such through PayPal?

As ive had enough stripped off my real cash from selling thru GOM then PayPals cut..I simply resent paying even MORE just to have whats left sent to my bank account only to then send it to LL for land fees.

Its all new to me this selling L$| so im looking at the most ecomonical way of getting the most £££ for my L$ as possible.

Thank you very much....oh and dont use this thread as an excuse to get flashy and use 'examples' of how much money you sell or earn...or I'll set fire to your stores

Best way, IMO, is to find a friend who will buy your L$.

When you sell L$ on GOM you pay a small commision fee (12c per 1k) to GOM. This charge pays for the servers, internet bandwidth, programming time and a little profit left over for Jamie and Tom to have a beer once a week.
If you sell high volumes, the commision will be discounted as per the tier levels advertised in the Charges page on the GOM web site.

When you then withdraw your $US to your paypal account you will NOT be charged by GOM. You may or may not be charged by PayPal depending on the type of paypal account you have. Most people with private paypal accounts (ie, not business accounts) will not pay a charge to recieve the money. Check the small print of your paypal agreement.


If you want the money to go direct to your bank account you could always ask Jamie to send you a cheque, money order or direct transfer. Charges for this are shown on the GOM website.

First off, if the scammer claimed your friend never made delivery of the currency, she should have used PayPal's "Buyer Protection Policy" against him. Basically, the buyer's protection says that purchases of "intangibles" (i.e. software downloads, subscription fees, virtual currency, etc.) are *not* covered. Since "Goods not delivered or substantially not as described" reversals are part of the BPP, anyone who sells privately and receives this kind of reversal should immediately inform PayPal of the nature of the transaction. They should then drip the claim and give you your money back. If, on the other hand, the reversal is an "unauthorized activity" claim (i.e. "I never made that purchase", you're pretty much screwed. Thanks, PayPal.

Now, as for selling through GOM...

With our new buy/sell now feature, there's no need to parcel up your L$ for sale. Just click on the "Sell Now" link, enter the amoung you want to sell, and the site will automatically fill open WANTED orders at the best price up to the amount you've specified. Conversely, if you want to place your L$ on the FOR SALE side, simply list your L$ in one big chunk at the price you want. Your order will be placed in the selling queue, and when it reaches the top, your L$ will be sold.

If you have a "Personal" PayPal account, you shouldn't incur any fees for withdrawing from GOM to PP. If, on the other hand, you have a Premier or Business PayPal account, you will be charged the receiver's fee by PayPal (probably 2.9%+$0.30). That means it's better to have one big payment than several small ones, since you'll be paying the same percentage, but the fixed $0.30 fee will keep stacking. We are currently working on getting PayPal's "Mass Pay" implemented which will shift the fee from being paid by the Business/Premier receiver to being paid by us. That's priority #1 in our to-do list.

If you're just planning on sending your withdrawal to your bank account anyway, you can always request a money order, check, or wire transfer. If you're Canadian, we can also do direct Interac transfers.

I have an answer to your question my friend. With paypal, you can apply for a paypal debit card if you meet certain requirements. They tell you what you need to do in order to get the card. Once you have the debit card, you can set it up with SL as a normal credit card. Anything LL charges to it will come directly out of your paypal account as a free transaction, and you also get 1% cash back for using the service! So in a way, not only are you avoiding your fees, but saving more money on top of it.

Please let me know if this information was helpful at all. Have a great day.

WELL thank you!

The GOM chap...is it Damien? many thanks...i recall you having problems when you were scammed a yr ago for 5K so Ive sent this link to my friend I thank you for that indeed.
And sorry I am NOT for one minute complaining of GOMS charges! You have overheads and fees and YOUR profits just like any business...so please dont think I was having a go at you at all.
No my gripe goes back to PayPal & eBay...when I was selling on eBay eBay took a cut THEN payPal...and they are owned by the same company and when I got my monthly bill from them and looked at the % they took for me accepting payments I swear it mounted up to about 25%!

I am going to PayPal now to apply for the debit card I am british so not sure if they would play that game with me..but many thanks for that info..very handy!

Lilly

No she can't - she's in the UK, like me. Only US people can get the paypal debit card. The paypal debit bar has been suggested to me as well - that's US only too.

One problem is the currency exchange - they all take a cut of course. At least with payment via paypal (which should be coming) we can keep a US$ balance avoiding the 2% spread fees from US$->£ and £->US$.

I noticed that GOM also takes E-Gold and Yowcow. I know very little about those, but maybe they are a solution. I believe E-Gold is based in the UK.